Financial Planning

07 December 2016
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How can we achieve our goals if we do not set them in the first place?

Planning for your financial future is serious business and you should seek expert independent advice. A fee paid to a financial consultant who will look at all aspects of your current finances and future plans might well be the best money you will ever spend.
Areas covered in a review include

Insurance Planning

Setting up insurance policies to meet your needs and the needs of your dependants

Investment and Planning Issues

Saving and investing to generate future wealth

Pension Planning

Setting up a tax efficient pension

Tax Planning

Planning for the minimization of tax

Estate Planning

Planning for the creation, accumulation, conservation and distribution of assets

Cash Flow and Liability Management

Maintaining and enhancing personal cash flows through debt and lifestyle management

Education Planning

The Financial planning process follows the following sequence:

Step 1: Setting goals This step is meant to identify where the client wants to go in terms of his finances and life.
Step 2: Gathering relevant information on the client This would include the qualitative and quantitative aspects of the client's financial and relevant non-financial situation.
Step 3: Analyzing the information The information gathered is analysed so that the client's situation is properly understood. This includes determining whether there are sufficient resources to reach the client's goals and what those resources are.
Step 4: Constructing a financial plan Based on the understanding of what the client wants in the future and his current financial status, a roadmap to the client goals is drawn to facilitate the achievements of those goals.
Step 5: Implementing the strategies in the plan Guided by the financial plan, the strategies outlined in the plan are implemented using the resources allocated for the purpose.
Step 6: Monitoring implementation and reviewing the plan The implementation process is closely monitored to ensure it stays in alignment to the client's goals. Periodic reviews are undertaken to check for misalignment and changes in the client's situation. If there is any significant change to the client's situation, the strategies and goals in the financial plan are revised accordingly.